COVID-19: CBIC extends Validity Period of E-Way Bills generated during March month

The Central Board of Indirect Taxes and Customs (CBIC), today further extended the validity period of the e-way bills generated during March amid the pandemic situation, till 31st May 2020. In a circular issued last month, the Board had clarified that the e-way bill will not be expired during the 21-day lockdown period announced by the Government in order to avoid the spread of COVID-19. As per the circular, the validity of the e-way bill would be expired on 30th June 2020.

In the notification issued today, the Board said that where an e-way bill has been generated under rule 138 of the Central Goods and Services Tax Rules, 2017 on or before the 24th day of March, 2020 and its period of validity expires during the period 20th day of March, 2020 to the 15th day of April, 2020, the validity period of such e-way bill shall be deemed to have been extended till the 31st day of May, 2020.”

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How interest will be calculated if you opt for moratorium on credit card dues amid Covid lockdown

Normally, one can defer payment by paying 'minimum due amount' and roll over the balance outstanding amount to the next month. In this process, the unpaid amount is carried forward to the next billing cycle and 2-4 percent interest is levied on it. Should you opt for the three-month moratorium on payment of credit card dues being offered by some banks as a relief measure, after a nudge from the Reserve Bank of India (RBI).As per the recent RBI notification, banks are permitted to grant a moratorium of three months for payment of all credit card dues falling between March 1, 2020 to May 31, 2020 but interest will continue to accrue on the unpaid dues during the moratorium period. RBI took this step to provide borrowers temporary relief in the economic upheaval caused by the coronavirus related lockdown . Let's first take a basic illustration of a credit card statement. Here in this example, the total credit card dues to be...

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